David Beckham has initiated a lawsuit against Mark Wahlberg concerning a failed partnership that aimed to promote Wahlberg’s fitness brand, F45.
Beckham, a former footballer, alleges the botched deal resulted in financial losses estimated at $8.5 million.
The collaboration, initiated to endorse a personalized workout line under Beckham’s name, fell apart due to unfulfilled promises regarding share allocations. Since October 2022, Beckham and golf icon Greg Norman have been entangled in legal proceedings against F45 in California courts.
Previously, Beckham’s enterprise, David Beckham Ventures Ltd (DBVL), sought compensation of $18.85 million from F45. However, recent legal filings now target recovery from the Mark Wahlberg Investment Group and F45 founders Adam Gilchrist and Rob Deutsch.
Beckham’s relationship with Wahlberg dates back to 2007, when Beckham moved to Los Angeles. In November 2020, Beckham joined F45 as a global ambassador, actively promoting the brand on social media. Yet, those posts have since been deleted.
The core of the dispute revolves around F45’s failure to deliver promised shares on time. Initially valued at approximately $12 per share, the shares were not issued until their value had plummeted to about $3 each, resulting in substantial financial loss for Beckham.
F45’s share price has drastically declined to just 15 cents, with numerous franchise closures worldwide. Wahlberg, who bought into F45 in 2019, and other defendants are contesting DBVL’s claims of fraudulent behaviour as baseless.
